Forex day trading can be quite risky and hugely profitable. But the sad statistics show that the great majority of traders have little if any success. In fact, over 90% of traders lose money.
The main reason for these losses is ignorance in the trading process itself and in how you manage your account.?A course which tries to teach the right way to day trade is the Forex Income Engine 2.0 course by Bill Poulos.
If you’re new to Forex and don’t know about Bill Poulos let me just say that he’s regarded as a leading expert in risk management and Forex trading. He is also known for his ability to pass on his knowledge to other people.
The Forex Income Engine 2.0 is a home study course which includes 7 DVDs, worksheets, and a detailed manual. The course covers the following things:
1. Forex basics – This module makes this course good for new traders as well as experienced ones as it covers the basics of Forex trading.
2. Risk management – This is something which I haven’t seen done well in any other Forex education resource as you will learn exactly how to manage your account to minimize risk first and foremost even before you go out and seek the biggest profit you can find.
3. Forex brokers and charts – In this module you will learn how to pick the best broker for you and how to work efficiently with pricing charts to make sure you master technical analysis.
4. 3 day trading methods – This is the heart of the course. Bill Poulos developed 3 trading methods called the ignition, overdrive, and spring method. All these methods work for day trading at any time frame and they’re geared to capture quick moves in the market with strict risk management guidelines.
With each method you get specific setup, entry, and exit rules so you know exactly what to do at each step and you don’t need to spend hours and hours staring at charts as the moves are quick and you’re in and out of the market pretty quickly.
All the trading methods work together with just 4 indicators so they’re pretty simple to use. However, you will be trading in an uncommon way so be prepared for a whole new way of trading.
5. 1 year support – You also get unlimited support for 1 year to make sure you become a successful trader.
My Forex Income Engine 2.0 Review
I’ve had the privilege of testing a pre-release copy of this course and I watched it intently. This is a course which does have a learning curve. You will need to spend some time to master every little bit of it. And it does require commitment and dedication on your part.
However, if you want to become a more profitable day trader, I highly recommend Forex Income?Engine 2.0.?I believe it’s a comprehensive and outstanding course which will make you a better trader.
By: John J. Drummond